013. The Keys To Effective Strata Budgets

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The Keys To Effective Strata Budgets

00:24 – Introduction and Overview
02:15 – Why it’s important to have a good understanding of budgets and levies for Strata residents
03:09 – Investing in and improving on the value of your investment is often more important than just maintaining your investment
05:27 – The two keys to creating an ideal budget for a Strata building
Data oriented and specific
Easily explained with no ambiguity
07:29 – Poorly explained budgets with lump sum figures can really create confusion in Strata corporations
09:03 – Legal fees are a significant line item in the budget and it’s important that there is clarity around what those legal fees are for
10:49 – Andrew Terrell shares a story on how he helped Strata buildings with his knowledge around budgeting
12:45 – The process that a good strata manager uses to manage strata budget and improve savings
14:35 – Challenges strata buildings face in establishing a realistic budget and calculating appropriate levies
16:45 – Andrew Terrell offers some advice around how to assess a good quality building in terms of a potential investment
17:25 – Key actions / quick wins listeners can take to get started with solving strata levy problems in and budgeting in strata buildings
18:40 – Books that have significant impact to Andrew Terrell and why
20:43 – How do listeners find out more about Andrew Terrell
21:44 – Wrap up and Thank you